IndexIQ Advisors LLC Purchases New Position in JPMorgan Chase & Co. (NYSE:JPM)

IndexIQ Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,120 shares of the financial services provider’s stock, valued at approximately $1,901,000.

A number of other large investors also recently modified their holdings of the stock. Signet Financial Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.7% in the fourth quarter. Signet Financial Management LLC now owns 4,678 shares of the financial services provider’s stock worth $652,000 after acquiring an additional 78 shares during the period. Corundum Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 2.3% in the 4th quarter. Corundum Group Inc. now owns 3,590 shares of the financial services provider’s stock worth $500,000 after purchasing an additional 79 shares during the period. Integrated Investment Consultants LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.4% in the 4th quarter. Integrated Investment Consultants LLC now owns 20,458 shares of the financial services provider’s stock valued at $2,852,000 after purchasing an additional 84 shares during the last quarter. Bull Street Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 0.7% during the fourth quarter. Bull Street Advisors LLC now owns 11,622 shares of the financial services provider’s stock worth $1,620,000 after buying an additional 85 shares during the period. Finally, Arjuna Capital raised its stake in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Arjuna Capital now owns 35,140 shares of the financial services provider’s stock worth $4,899,000 after buying an additional 88 shares during the last quarter. 73.01% of the stock is owned by institutional investors and hedge funds.

In other news, insider Ashley Bacon sold 13,027 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $91.12, for a total value of $1,187,020.24. Following the transaction, the insider now owns 137,243 shares of the company’s stock, valued at $12,505,582.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen B. Burke purchased 75,000 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was purchased at an average cost of $87.99 per share, for a total transaction of $6,599,250.00. Following the acquisition, the director now owns 150,043 shares of the company’s stock, valued at approximately $13,202,283.57. The disclosure for this purchase can be found here. 0.78% of the stock is currently owned by insiders.

NYSE:JPM opened at $89.47 on Friday. The business’s fifty day moving average is $91.61 and its 200 day moving average is $118.08. The firm has a market cap of $274.75 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 3.51 and a beta of 1.20. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 52-week low of $76.91 and a 52-week high of $141.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($1.92). JPMorgan Chase & Co. had a net margin of 21.61% and a return on equity of 12.52%. The company had revenue of $28.25 billion for the quarter, compared to analysts’ expectations of $29.45 billion. During the same period in the previous year, the firm earned $2.65 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 5.13 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.60 annualized dividend and a yield of 4.02%. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.

A number of equities research analysts have weighed in on JPM shares. DZ Bank upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, March 20th. DA Davidson lifted their price objective on shares of JPMorgan Chase & Co. from $91.00 to $97.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $105.75 price objective for the company in a research note on Wednesday. Citigroup cut their price target on JPMorgan Chase & Co. from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Finally, TheStreet downgraded JPMorgan Chase & Co. from a “b-” rating to a “c” rating in a research note on Monday, May 11th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. JPMorgan Chase & Co. has a consensus rating of “Buy” and a consensus target price of $109.75.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

See Also: Arbitrage

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.